Ruth Melkebeke: what changed
Ruth Melkebeke
Largest movements
- Cash -€55,005
down €55,005 (-53.9%), from €102,111 to €47,107
mainly Contributions, distributions and other (-€87,824) and Other debts (-€63,225)
- Tangible fixed assets -€16,497
down €16,497 (-22.0%), from €74,930 to €58,432
of which Furniture and vehicles: -€13,943
- Deferred charges and accrued income +€1,904
new in 2025: €1,904
- Other debts -€63,225
down €63,225 (-71.0%), from €89,019 to €25,794
- Debts after one year -€10,677
down €10,677 (-30.3%), from €35,223 to €24,547
- Tax, wage and social debts +€2,728
up €2,728 (+7.9%), from €34,343 to €37,071
- Gross operating margin +€20,866
up €20,866 (+18.7%), from €111,333 to €132,198
- Taxes +€5,424
up €5,424 (+25.8%), from €21,018 to €26,443
- Financial income -€2,124
down €2,124 (-63.8%), from €3,327 to €1,203
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €177,747 | €107,443 | -€70,304 | -39.6% |
| Fixed assets | 21/28 | €74,930 | €58,432 | -€16,497 | -22.0% |
| Tangible fixed assets | 22/27 | €74,930 | €58,432 | -€16,497 | -22.0% |
| Furniture and vehicles | 24 | €54,799 | €40,855 | -€13,943 | -25.4% |
| Other tangible fixed assets | 26 | €20,131 | €17,577 | -€2,554 | -12.7% |
| Current assets | 29/58 | €102,817 | €49,011 | -€53,807 | -52.3% |
| Amounts receivable within one year | 40/41 | €706 | €0 | -€706 | -100% |
| Trade receivables | 40 | €706 | €0 | -€706 | -100% |
| Cash at bank and in hand | 54/58 | €102,111 | €47,107 | -€55,005 | -53.9% |
| Deferred charges and accrued income | 490/1 | - | €1,904 | +€1,904 | |
| Total equity and liabilities | 10/49 | €177,747 | €107,443 | -€70,304 | -39.6% |
| Equity | 10/15 | €5,000 | €5,000 | = | 0.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €172,747 | €102,443 | -€70,304 | -40.7% |
| Amounts payable after more than one year | 17 | €35,223 | €24,547 | -€10,677 | -30.3% |
| Financial debts | 170/4 | €35,223 | €24,547 | -€10,677 | -30.3% |
| Amounts payable within one year | 42/48 | €136,023 | €76,396 | -€59,627 | -43.8% |
| Current portion of amounts payable after more than one year | 42 | €10,285 | €10,677 | +€391 | +3.8% |
| Trade debts | 44 | €2,377 | €2,855 | +€478 | +20.1% |
| Suppliers | 440/4 | €2,377 | €2,855 | +€478 | +20.1% |
| Taxes, remuneration and social security | 45 | €34,343 | €37,071 | +€2,728 | +7.9% |
| Taxes | 450/3 | €34,343 | €37,071 | +€2,728 | +7.9% |
| Other amounts payable | 47/48 | €89,019 | €25,794 | -€63,225 | -71.0% |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,361 | €16,497 | +€137 | +0.8% |
| Other operating charges | 640/8 | €1,334 | €843 | -€491 | -36.8% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €111,333 | €132,198 | +€20,866 | +18.7% |
| Operating profit (loss) | 9901 | €93,638 | €114,858 | +€21,220 | +22.7% |
| Financial income | 75/76B | €3,327 | €1,203 | -€2,124 | -63.8% |
| Recurring financial income | 75 | €3,327 | €1,203 | -€2,124 | -63.8% |
| Financial charges | 65/66B | €1,621 | €1,794 | +€173 | +10.7% |
| Recurring financial charges | 65 | €1,621 | €1,794 | +€173 | +10.7% |
| Profit (loss) for the period before taxes | 9903 | €95,344 | €114,267 | +€18,923 | +19.8% |
| Income taxes | 67/77 | €21,018 | €26,443 | +€5,424 | +25.8% |
| Profit (loss) for the period | 9904 | €74,326 | €87,824 | +€13,498 | +18.2% |
| Profit (loss) for the period to be appropriated | 9905 | €74,326 | €87,824 | +€13,498 | +18.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.